What’s Ahead For Mortgage Rates This Week – December 26, 2016

Last week’s economic news included readings on consumer spending, core inflation new home sales and regularly scheduled readings on mortgage rates and new jobless claims.

Consumer Spending Dips in November

Commerce Department reports on consumer spending in November indicated that consumer spending was lower in November with 0.20 percent growth as compared to October’s reading of 0.40 percent growth. November’s reading for core inflation, which excludes volatile food and energy sectors, was flat as compared to expectations of 0.10 percent growth and October’s reading of 0.10 percent growth.

New Jobless Claims Rise to 6–Month High

New jobless claims jumped to 275,000 last week as compared to an expected reading of 258,000 new claims and the prior week’s reading of 254,000 new claims. New claims typically rise during the holiday season due to school and other workplace closures.

There was good news as new jobless claims remained below the benchmark of 300,000 new claims for 94 consecutive weeks. This streak of new claims below 300,000 new claims is the longest since 1970. Increasing numbers of “contingent” workers contributed to volatility in employment; The Rand Corporation reported that 10.10 percent of the workforce was contingent workers in 2005; the percentage of contingent workers increased to 15.80 percent of the U.S. workforce in 2015.

Mortgage Rates, New Home Sales Rise

Freddie Mac reported a jump in mortgage rates last week; the average rate for a 30-year fixed rate mortgage was 14 basis points higher at 4.30 percent. The average rate for a 15-year fixed rate mortgage was 15 basis points higher at 3.52 percent; the average rate for a 5/1 adjustable rate mortgage rose 13 basis points to 3.32 percent. Analysts said that the 10-year Treasury rate rose 10 basis points in response to the Fed raising its target funds rate. New home sales gained in November with a seasonally adjusted annualized reading of 582,000 sales as compared to 285,000 expected sales and October’s annual rate of 563,000 sales of new homes. This was the second highest reading for new home sales since early 2008. Builders will be watching mortgage rates and new home sales in the New Year to determine how rising mortgage rates will impact new home sales.

What‘s Ahead

Next week’s scheduled economic news includes Case-Shiller Home Price Index reports, pending home sales and weekly readings on mortgage rates and new jobless claims. U.S. Financial markets are closed today in observance of the Christmas holiday.

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6782 W Firebird Drive Glendale, AZ 85308

$629,995

4 Beds

3 Baths

2,125 SqFt

Status Active

MLS # 6783697

Property Type Single Family Residence

Price Type --

Nestled in the highly sought-after community of Arrowhead Ranch, this beautiful 4 bedroom 3 bath +Den home stands as a true masterpiece of craftsmanship and design. Every inch of the property has been meticulously maintained, showcasing an elegant balance of style and function. Eye-catching custom woodwork graces the interior, from intricate design to handcrafted cabinetry, adding warmth and sophistication to every room. The spacious open floor plan invites natural light to pour in, enhancing the home's inviting ambiance. Outside, the manicured landscaping and peaceful surroundings offer a serene escape while still being close to all the amenities that the Arrowhead area has to offer. **Please check documents tab for the list of upgrades as well as the Home floor-plan. **

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21816 E Saddle Court Queen Creek, AZ 85142

$629,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6708893

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a multi-sliding glass door in the great room, cozy breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

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24006 N 171st Drive Surprise, AZ 85387

$629,995

4 Beds

3.5 Baths

2,844 SqFt

Status Active

MLS # 6678786

Property Type Single Family Residence

Price Type --

Welcome Home! Darius plan provides a sophisticated and accommodating plan for livability that checks all the boxes on your wish list. In addition to a lavish owner's suite—with a roomy walk-in closet and attached double-sink bath—this home includes a second owner's suite with an adjacent living room, perfect for multi-generational living. You'll also enjoy a 3-car garage, a study, a great room with a covered patio featuring a multi slide door to bring the outdoor living indoors. Inviting gourmet kitchen with a generous island, dining nook for all entertaining gatherings! Airy 10 ft ceilings ,desired jack and jill bathrooms and so much more! This is a must see!

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21970 E Stirrup Court Queen Creek, AZ 85142

$629,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6709030

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a multi-sliding glass door in the great room, cozy breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

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21881 E Saddle Court Queen Creek, AZ 85142

$629,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6731553

Property Type Single Family Residence

Price Type --

The single-story Cassandra plan showcases an open layout with a great room with a multi-sliding glass door, a breakfast nook, a large gourmet kitchen and a 2-car garage. The primary suite is adjacent, and boasts a generous walk-in closet and an attached bath with a large walk-in shower. Two additional bedrooms flank a full bath, and the nearby study.

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23997 N 172nd Avenue Surprise, AZ 85387

$629,995

3 Beds

2.5 Baths

2,734 SqFt

Status Active

MLS # 6732038

Property Type Single Family Residence

Price Type --

Welcome to Estates at Asante, a beautiful community with surrounding views to enjoy! This community offers single story homes with floor plans you will love, like our beautiful Julia plan! This home sits on an oversized, cul de sac, corner lot with mountain views. Once you walk inside the Julia, the extended entry leads to an expansive gourmet kitchen with an extended Quartz center island and 42'' cabinets; a large Butlers Pantry with a wetbar, breakfast nook and great room with a 15ft center meet slider, for indoor and outdoor entertaining. In addition, there is a formal dining room with adjacent covered courtyard off to the side of the home accessible by the center meet doors! This home is set up with 3 bedrooms, 2 and half bathrooms, 3 car garage with additional storage. Welcome to the home of your dreams!

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25388 N 76th Drive Peoria, AZ 85383

$629,990

4 Beds

3 Baths

2,150 SqFt

Status Active

MLS # 6704857

Property Type Single Family Residence

Price Type --

Brand new community in North Peoria! This stunning single story home offers 2,150 sq ft of functional living space. It features 4 bedrooms, 3 bathrooms, den, and a 3 car tandem garage. The open concept kitchen is perfect for entertaining and features a large Island, walk-in pantry and stainless steel appliances. It also offers our Coastal Design Palette which includes Fairview White Painted 42'' Cabinets, Crisp Stria Quartz kitchen countertops, Zelige Cielo 4x4 kitchen backsplash, and 6x36 wood looking plank tile in all the common areas. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Great location close to dining, freeways, parks, and entertainment!

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22884 E Lords Way Queen Creek, AZ 85142

$629,990

4 Beds

3.5 Baths

3,111 SqFt

Status Active

MLS # 6726730

Property Type Single Family Residence

Price Type --

Step into this delightful quick move-in home, featuring our Daisy floorplan with 3111 sqft, boasting 4 bedrooms, a den, a loft, and 3.5 bathrooms. The Daisy floorplan offers a spacious kitchen with a large island, pantry, and expansive dining and great room areas, perfect for entertaining guests or enjoying quality family time. Embrace the elegance of our fine finishes, featuring 6 x 24 plank tile floors in the main living areas, plush carpeting in the bedrooms, stylish 42'''' gray shaker upper cabinets with sleek Black Bronze hardware, and stunning quartz kitchen countertops paired with a white 4 x 16 tile backsplash. The kitchen comes fully equipped with stainless steel appliances, including a gas range, microwave, dishwasher, refrigerator, and white washer and dryer. Additionally, the kitchen is pre-wired for pendant lighting, allowing for easy customization, and features a painted grade mission railing and soft water loop. This home is truly a gem, with 8' doors throughout, a 4-panel slider in the great room, and a mission stair railing adding to its allure. It's just waiting for your personal touch to make it complete. Don't let this opportunity pass you by! Begin your journey to owning your dream home at Madera!

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23043 E Lords Way Queen Creek, AZ 85142

$629,990

4 Beds

2.5 Baths

2,568 SqFt

Status Active

MLS # 6757137

Property Type Single Family Residence

Price Type --

Brand new phase!. Our beautiful Juniper plan is conveniently located to all that Queen Creek has to offer. Minutes from the brand new Costco, Schnepf Farms, Queen Creek Market Place and the Queen Creek Olive Mill. A public report is available on the Arizona Department of Real Estate website.

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2434 W Rowel Road Phoenix, AZ 85085

$629,990

3 Beds

2.5 Baths

1,964 SqFt

Status Active

MLS # 6755330

Property Type Single Family Residence

Price Type --

Welcome to your NEW HOME at Aster in Union Park! This home offers 1,964 sq ft of living space with 3 bedrooms, 2.5 bathrooms, and a 2-car garage. The primary bedroom has dual walk-in closets and a private deck. The Design features are the Elevated A package of upgrades including 42'' flagstone cabinets, quartz countertop, custom backsplash, large island, stainless steel gas range and tile flooring. HOA includes Union Park Amenities, front yard landscaping & maintenance along with concierge trash pickup. Union Park residents will enjoy the abundance of amenities that include, resort styled pool and lounge areas, a 5800 sq ft clubhouse, pickleball courts, basketball courts, 11 parks, playgrounds and walking paths. Easy access to 3 freeways within 10 minutes and 25 minutes to Airport.

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11506 E Utah Avenue Mesa, AZ 85212

$629,990

4 Beds

3.5 Baths

2,615 SqFt

Status Active

MLS # 6728747

Property Type Single Family Residence

Price Type --

Welcome to the Garnet at Destination at Gateway in Mesa, Arizona. This stunning single-story home boasts 4 bedrooms, 3.5 bathrooms, and a den. With 10-foot ceilings and 8-foot doors, the space feels open and inviting. The gourmet kitchen features GE stainless steel appliances, a 36-inch gas cooktop, built-in wall oven and microwave, shaker cabinets with hardware, quartz countertops, and a tile backsplash. Enjoy 6x36'' wood-look tile in the main areas and upgraded carpet elsewhere. A 4-panel sliding glass door connects the great room to a covered patio. The primary bathroom includes a separate shower, soaking tub, dual sinks, and vanity. Bathrooms have upgraded vanity lighting with matte black faucets and fixtures.

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7444 W Quail Track Drive Peoria, AZ 85383

Open House

$629,900

3 Beds

2.5 Baths

1,989 SqFt

Status Active

MLS # 6755375

Property Type Single Family Residence

Price Type --

Ahh the smell of new-October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Amherst' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of similar spec home to show layout, options may vary**

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